Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
See, the talking heads on Fox Biz & CNBC tell me that I don't need to worry about the falling dollar against the Euro unless I actually vacation in Europe or buy imported cheese or wine.
There are some in Europe saying the Euro will not last as a currency for the EU... the problem is that many of the countries with faltering economies want some control of monetary policy but the stronger countries (mostly Germany) continue to press for tight control and high rates.
A few in Europe have said the smart bet is to begin hoarding dollars and shorting Euros. Apparently change is in the wind.
Expect oil to come off the current peaks for a while anyway.
There are some in Europe saying the Euro will not last as a currency for the EU... the problem is that many of the countries with faltering economies want some control of monetary policy but the stronger countries (mostly Germany) continue to press for tight control and high rates.
A few in Europe have said the smart bet is to begin hoarding dollars and shorting Euros. Apparently change is in the wind.
Expect oil to come off the current peaks for a while anyway.
Nothing moves up in a straight line. I personally believe oil comes back to 100-110 before making a run to 150 and higher.
All countries are creating inflation. Fiat currencies NEVER work in the end, no matter how high they try to make the tower of Babel. The tower just makes more destruction when it eventually crumbles down.
There is no way I would ever expect the dollar to become more valuable or precious, even in physical form. Even if the dollars foreigners hold doesn't get spent back into the global money supply and thereby driving up bond yields to the moon, severe monetary deflation is almost always proceeded with massive pumping of money in the form of government entitlements to prevent starvation and desperation en masse. The 30's was a stark reminder of this as inflation ran upwards of 30% as FDR and the Fed couldn't get enough of the printing press.
I stand corrected (egg on face). I suppose it was unemployment that was at 30%, but I could've sworn that I saw figures of 30% inflation during the New Deal before. I'm quite shocked that monetary inflation ran that low during the course of the program.
Yes, unemployment during the early and mid 1930s was in the 30 percent range. It varied quite a bit by region, but underemployment was almost as big of a problem. Many people who did manage to have a job earned just barely enough to survive. That was the case for my father's family, he was a teenager in that era living with his widowed mother who had very few job skills. It wasn't until the late 1930s that the private sector of the economy started to re-gain strength and hiring of new workers picked up in substantial numbers to cut unemployment.
This time will be much worse as in the 30's the US did not have a debt greater than its worth, and personal debt was lower than today. Also ponder the fact that the US was energy-independant and self-sufficient, unlike today when it depends on the rest of the world to survive.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
